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Brent Last Day Financial
Futures and Options
Brent Last Day Financial Futures - Contract Specs
| Contract Unit | 1,000 barrels |
|---|---|
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours | CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) TAS: Sunday - Friday 6:00 p.m. - 2:30 p.m. (5:00 p.m. - 1:30 p.m. CT) CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT |
| Minimum Price Fluctuation | 0.01 per barrel = $10.00 TAS: Zero or +/- 40 ticks in 0.0025 increments |
| Product Code | CME Globex: BZ CME ClearPort: BZ Clearing: BZ TAS: BZT TAM: "BZS","BZL" |
| Listed Contracts | Monthly contracts listed for the current year and the next 7 calendar years and 3 additional contract months. List monthly contracts for a new calendar year and 3 additional contract months following the termination of trading in the December contract of the current year. |
| Settlement Method | Financially Settled |
| Floating Price | The Floating Price is equal to the ICE Brent Crude Oil Index price as published one day after the final trading day of the contract month. |
| Termination of Trading | Trading in the February contract month terminates on the 2nd last London business day of the month, 2 months prior to the contract month. Trading in all other contract months terminates on the last London business day of the month, 2 months prior to the contract month. |
| TAM or TAS Rules | Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price. Trading at Marker (TAM) is analogous to Trading at Settlement (TAS) wherein parties are permitted to trade at a differential to a not-yet-known price. TAM uses a marker price, whereas TAS uses the Exchange-determined daily settlement price for the underlying futures contract month. TAS Table |
| Settlement Procedures | |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Price Limit or Circuit | |
| Vendor Codes |
